UAE granting a license to Russia's MTS Bank

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The United Arab Emirates (UAE) has taken a step forward in becoming a financial hub for Russian expatriates by granting a license to Russia's MTS Bank. The decision by the UAE central bank to issue the license to the lender has met the growing demand for financial services from Russian citizens who have settled in the UAE in recent years. The move has also created new opportunities for the flow of money into the country, further bolstering its position as a thriving financial center. 

Over the United Arab Emirates (UAE) and Russia have had a strong relationship in recent years. Both countries have been working to deepen their economic, political and cultural ties

 The granting of the license to MTS Bank will help to ease access to bank accounts for Russians and open up new channels for the flow of money into the UAE, further reinforcing its position as a financial center of significance.

Overall, the granting of a license to Russia's MTS Bank by the UAE central bank is a positive step towards creating a thriving financial center for Russian expatriates and further establishing the UAE as a hub for financial services.




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